An appraisal of regional trade agreements’ impact on Nigeria’s growth: A study of ECOWAS.
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Background of the Study :
Regional trade agreements have been instrumental in shaping economic policies and fostering growth in many developing regions. The Economic Community of West African States (ECOWAS) represents a significant regional integration initiative that has implications for Nigeria’s economic performance from 2000–2020 (Nwankwo, 2023). Through the harmonization of trade policies, reduction of tariffs, and promotion of cross-border investments, ECOWAS aims to create a more integrated and competitive regional market. Nigeria, as one of the largest economies in the bloc, plays a pivotal role in this process. Empirical evidence suggests that participation in regional trade agreements can stimulate economic growth by increasing market access, encouraging technology transfer, and enhancing competitiveness (Adesoji, 2024). However, challenges such as policy non-uniformity, infrastructural deficits, and political instability can limit the benefits of regional integration. This study examines the specific impact of ECOWAS on Nigeria’s growth, analyzing trade flows, investment trends, and economic indicators. The research aims to provide insights into how regional trade agreements contribute to economic development and identify areas where policy coordination can be improved to maximize benefits (Okoye, 2025).
Statement of the Problem
Despite the potential benefits of regional trade agreements, Nigeria’s growth has not fully capitalized on the opportunities provided by ECOWAS. The anticipated increase in trade, investment, and economic integration has been hampered by policy inconsistencies, infrastructural challenges, and administrative inefficiencies. This gap between expected and actual economic outcomes calls for an appraisal of how regional trade agreements are implemented and their tangible effects on growth. This study seeks to address the problem by examining the factors that hinder the full realization of ECOWAS benefits in Nigeria, thereby proposing actionable strategies to improve regional integration and boost economic development (Nwankwo, 2023).
Objectives of the Study:
1. To assess the impact of ECOWAS on Nigeria’s economic growth.
2. To identify the challenges in fully leveraging regional trade agreements.
3. To recommend strategies to enhance the benefits of ECOWAS for Nigeria.
Research Questions:
1. How has ECOWAS influenced Nigeria’s economic growth?
2. What challenges limit the effective implementation of regional trade agreements?
3. What policy measures can maximize the benefits of ECOWAS?
Research Hypotheses:
1. ECOWAS membership positively influences economic growth.
2. Policy inconsistencies reduce the potential benefits of regional trade agreements.
3. Enhanced regional cooperation improves growth outcomes.
Significance of the Study (100 words):
This study is significant as it evaluates the role of regional trade agreements, particularly ECOWAS, in driving Nigeria’s economic growth. Its findings will aid policymakers in addressing the challenges of regional integration and in designing strategies that maximize trade benefits. By providing evidence-based recommendations, the research contributes to strengthening Nigeria’s position within ECOWAS and promoting sustainable economic development (Nwankwo, 2023).
Scope and Limitations of the Study:
This study is limited to analyzing the impact of ECOWAS on Nigeria’s economic growth, focusing on trade and investment data. It does not extend to other regional agreements or comparative studies with non-ECOWAS members.
Definitions of Terms:
1. Regional Trade Agreements: Treaties between neighboring countries to facilitate trade and economic integration.
2. ECOWAS: The Economic Community of West African States, a regional group aimed at economic cooperation.
3. Economic Growth: An increase in the production of goods and services, leading to improved living standards.
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